International Energy Agency
The International Energy Agency's emergency oil sharing system is designed to enable member nations to share oil supplies during an oil supply disruption equal to or exceeding 7 percent or more of members' oil supplies. However, participation could have anticompetitive consequences and under U.S. antitrust laws could result in suits against U.S. companies. To ensure participation of major U.S. oil companies, legislation provides a statutory defense against any civil or criminal suit brought under federal or state antitrust laws for some actions. This report describes efforts to expand the antitrust and breach of contract defenses for oil company supply transactions during an oil emergency and to resolve the problem of foreign blockage of information critical to U.S. antitrust review of oil transactions involving foreign affilitates of U.S. companies.
- Research Organization:
- General Accounting Office, Washington, DC (USA). National Security and International Affairs Div.
- OSTI ID:
- 6489990
- Report Number(s):
- GAO/NSIAD-88-89BR
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
02 PETROLEUM
INTERNATIONAL ENERGY AGENCY
LEGAL ASPECTS
PETROLEUM INDUSTRY
ANTITRUST LAWS
FUEL SUPPLIES
PUBLIC ENTERPRISES
SUPPLY DISRUPTION
ENERGY SUPPLIES
INDUSTRY
INTERNATIONAL ORGANIZATIONS
LAWS
294002* - Energy Planning & Policy- Petroleum
020700 - Petroleum- Economics
Industrial
& Business Aspects
293000 - Energy Planning & Policy- Policy
Legislation
& Regulation